On Monday, the bank issued call warrants on two A50 China Tracker funds. The funds, managed by Barclays Global Investors, are denominated in Hong Kong dollars and invest in the top 50 companies listed on the Shanghai and Shenzhen stock exchanges. One has a six-month and the other a seven-month maturity; both will be listed on March 12.

Cheril Lee, the bank’s Hong Kong-based head of securitised derivatives products, said: “This was the right time to launch, as the exchange had approved warrants on this underlying and the market was now liquid enough.”

Société Générale will launch a similar warrant on March 8, but has not released further details.

This white paper looks at the Basel Committee's BCBS239 principles, also known as PERDARR (Principles for Effective Risk Data Aggregation and Risk Reporting), which comes into force from 1 January 2016.

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US insurer MetLife is fighting its designation as a systemically important financial institution - a label handed out by the FSOC in December. State supervisors are also questioning the decision: www.risk.net/2391615. Should MetLife be supervised as a Sifi?